Indonesia: DOKU investor Gemilang Dana Sentosa buys 20% of Bareksa

Gemilang Dana Sentosa, who is also a backer of e-payment provider DOKU, has invested an undisclosed amount in mutual funds marketplace and news portal Bareksa.

Gemilang now owns 20 per cent of the platform via a rights issue transaction.

Bareksa will use the fresh capital to expand its business, in tech development, talent acquisition, as well as to increase marketing efforts. It also aims to triple the number of accounts it has at present.

Bareksa also announced that it has appointed Mahendra Siregar, former Head of Investment Coordinating Board (BKPM), as president commissioner.

Currently, Bareksa’s valuation has reached an “eight-digit” figure in US dollars, according to media reports.

“Bareksa is the right platform to reach out to people who have absolutely no knowledge of the more sophisticated financial products, such as mutual funds. This segment is even larger than the ‘unbankable’ segment due to limited knowledge on financial services,” said Thong Sennelius, DOKU CEO.

“We are bridging a lot of aspects. In our platform, not only we offer capital market products but also research and information, explanation and analysis with a friendly tone,” he added.

Bareksa’s services range from financial data to online tool to news and analysis on investment and market. The Indonesian Financial Service Authority (OJK) has granted the startup a license to operate – the first for a fintech platform, it claimed.

Bareksa was launched in January 2015 and has till date recorded over 32,000 accounts with investments under management of more than Rp 200 billion. About 70 percent of its account holders are between the age group of 20 and 35 years old.

Bareksa – DOKU partnership started late last year when DOKU announced that it was helping Bareksa to market a mutual fund product at a relatively low price. The product – Cipta Dana Cash – will be offered at a starting price of Rp 100,000 ($7.7) to 1.3 million DOKU users. Customers can purchase it via their electronic gadgets, and they would receive 8.5 per cent of annual interest.

Also Read:

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Grab Indonesia to develop mobile payments, partner with fintech companies: Ridzki Kramadibrata

Indonesia: Bank Central Asia launches VC unit, to invest $15m in fintech

Fintech can help boost Indonesia’s creative sector: BEKRAF

‘Indonesia’s Fintech investment to reach $8b in 2 years’

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.